As awareness of the importance of renewable energy grows, more and more homeowners are turning to energy-efficient alternatives.
In sunny Florida, solar panels are an increasingly popular choice for their environmental friendliness and long-term cost-effectiveness.
This article offers an in-depth analysis of the cost of different types of solar panels in the Sunshine State to help you make an informed decision about this important investment.
How Much Do Solar Panels Cost in Florida?
The cost of solar panels can vary greatly depending on various factors. These could range from the brand, type of solar panel, and power output, to installation costs, and even the geographical location of your property.
With this in mind, we will explore the price ranges of three main types of solar panels in Florida: monocrystalline, polycrystalline, and thin-film.
Monocrystalline Panels
Monocrystalline solar panels, known for their high efficiency and sleek black design, are crafted from single crystal structure.
These panels offer the greatest efficiency rates because they are made out of the highest-grade silicon.
Despite the high upfront cost, their durability and high energy output can make them a worthwhile investment in the long haul.
Polycrystalline Panels
Polycrystalline solar panels are fragments of silicon crystals fused together. Their blue hue and shattered glass appearance are their distinctive features.
They offer slightly lower efficiency than monocrystalline counterparts but come at a considerably lower cost. Their lower cost makes these panels a popular choice for large-scale installations or for homeowners working with tighter budgets.
Thin-Film Panels
Thin-Film solar panels are the most recent development in solar technology. They are made by applying one or more films of photovoltaic material (such as silicon, cadmium, or copper) onto a substrate.
These panels are the least expensive option on the market, with costs per panel in Florida usually falling between $600 and $1200. Their flexibility, lightweight build, and sleek aesthetics make them popular, although they deliver less efficiency compared to crystalline-based panels.
Average Cost of Florida Solar Panels
Solar panel costs in Florida, like most other states, are commonly calculated per watt. The average cost per watt in Florida ranges from $2.60 to $3.30. Therefore, a solar panel system can cost anywhere between $15,000 and $25,000, depending on the system size and equipment you choose.
However, it’s important to consider that this cost doesn’t account for solar tax credits and other incentives, which could significantly reduce the initial price of solar panel installation.
Solar Panel Costs in Florida By Size
Below is an overview of approximate costs for solar panel systems of various sizes in Florida, considering an average cost of $2.60 per watt:
3 kW System: $7,800
A compact system perfect for small residential homes with relatively low energy consumption.
4 kW System: $10,400
Suitable for small to medium-sized homes, representing a balance between cost and output.
5 kW System: $13,000
Ideal for medium to large homes with typical energy usage.
6 kW System: $15,600
Suited for larger houses with high-power appliances or electric heating systems.
7 kW System: $18,200
Optimal for large homes or small businesses with substantial energy needs.
8 kW System: $20,800
A viable option for small to medium-sized businesses or homes with high energy use.
9 kW System: $23,400
Ideal for businesses or large homes with very high energy demands.
10 kW System: $26,000
Most suitable for larger businesses with high energy consumption needs.
Factors That Affect Solar Installation Cost
Check out the following factors that might affect your installation cost:
Labor Cost
This usually involves the cost of site inspection, system design, and installation. While labor costs can vary, the national average range lies between $0.75 and $1.25 per watt.
Location
Your geographical location can influence the cost due to the varying costs of labor and equipment in different states, as well as differing amounts of sunlight which affect system productivity.
Permitting
Acquiring permits can add to the overall cost. While these costs vary from city to city, they generally involve a flat fee.
Roof Type
Your roof type (asphalt, tile, metal) can impact the cost of installation. Some types of roofing materials may require unique mounting hardware, which could increase the installation cost.
Roof Age
If your roof needs reinforcement or replacement to support the panels, that could lead to additional costs.
Solar Panel Type
As discussed earlier, the type of solar panel (monocrystalline, polycrystalline, or thin-film) can significantly affect the overall cost.
System Size
Unsurprisingly, the larger the system, the higher the cost of solar panels and installation. However, a larger system can provide more energy, potentially leading to significant savings on your electric bill.
Knowing these factors can help you better grasp your solar installation cost and plan accordingly. As always, it is crucial to speak with several solar providers to ensure you are getting the most efficient system at the best price.
Other Factors That Affect Cost of Solar Panels in Florida
Besides the direct cost of panels and installation, other factors can influence the overall cost of solar power in Florida.
Net Metering
Florida, like many other states, has a net metering policy. This allows residential and commercial customers who generate their own electricity from solar power to feed electricity they do not use back into the grid. The power they feed back is deducted from their energy bill, effectively lowering the overall cost of solar.
Payment Method
The way you choose to pay for your solar panel system, whether through cash, loans, leases, or a power purchase agreement, has an influence on the overall cost. Loans and leases have the advantage of no or low upfront costs while cash purchases yield the highest long-term savings.
Solar Tax Credits
The Federal Solar Tax Credit offers a dollar-for-dollar reduction against your federal income tax equal to 26% of the final cost of solar energy systems installed by December 31, 2022. This can significantly lower your solar system’s net cost, in turn speeding up the payback period of your investment.
How To Save Money on Solar Panel Installation
To save money on solar panel installations, it’s essential to do your research. Compare quotes from multiple installers to ensure you’re getting a competitive price.
Additionally, monitoring your energy usage and adjusting habits to lower consumption can lower the solar system size necessary for your home, ultimately reducing the system’s cost.
Claim Florida Solar Power Incentives
Florida has several solar incentives and tax exemptions that can drastically reduce the cost of installing a solar panel system.
Solar and CHP Sales Tax Exemption
Florida offers 100% exemption from the state sales tax for residential solar systems. This means that when you purchase your system, you will not pay any sales tax, thus significantly lowering your solar installation cost.
Property Tax Abatement for Renewable Energy Property
Under this program, the added value to your property from solar panels will not be included in the assessment for property taxes.
Consequently, your property taxes won’t increase due to the added value from the panels. This helps you save more money and speeds up your investment’s payback time.
Enroll in Net Metering
Net metering allows homeowners who invest in solar panels to receive credits for extra power that their panels generate. This excess energy is sent back to the electric grid and is recorded as a credit on their utility bill. To start receiving these benefits in Florida, you have to apply for the interconnection agreement with your utility company post solar panel installation.
After approval, the utility company provides a bi-directional (net) meter that will record the electricity your solar system produces and the electricity you consume.
If your solar system produces more electricity than you need, the excess will go back to the grid, causing your meter to spin backward and giving you a credit.
How To Pay for Solar Panels
Several options exist for financing your residential solar panel system in Florida:
Cash Purchase: This is the most straightforward payment method involving a one-time upfront payment for your solar system.
Although this needs significant initial investment, you benefit from maximum long-term savings as you own the system outright and enjoy free electricity after the payback period.
Solar Loan: This allows homeowners to borrow the money they need to install their panels and to repay the loan over time.
You can start saving on your electricity bills immediately, with many solar loans requiring no upfront payment.
Lease/Power Purchase Agreement (PPA): In these arrangements, you lease the equipment or you purchase energy at a predetermined rate.
The advantage is that these methods enable you to avoid the high upfront cost but in the long run, total savings tend to be less compared to loan or cash payment.
Is It Worth Switching to Solar in Florida?
Yes, for several reasons switching to solar power is worth it in Florida. The Sunshine State lives up to its name, receiving abundant sunlight year-round, improving solar efficiency.
Additionally, Florida offers several financial incentives, such as the Solar and CHP Sales Tax Exemption and the Property Tax Abatement for Renewable Energy Property.
Furthermore, there are environmental benefits as using solar power reduces your carbon footprint, contributing to a more sustainable future.
Switching to solar energy in Florida with a trusted provider like Construct Sun comes with added benefits.
With Construct Sun, you can enjoy residential solar panel installation services across multiple locations, ensuring easy access regardless of your area within the state.
We offer reliable and efficient solutions, helping you navigate from the selection of the panel type, system size, payment options to installing the solar system in your property.
